Commodities snapshot (precious & industrial)

Metal pack is mixed today. Performance this week at a glance in chart & table -

Gold:

• Gold is down further as risk aversion surrounding Trump’s victory fails to materialize. Today’s range $1251-1265
• We expect gold to reach $1520
• Gold is currently trading at $1261/troy ounce. Immediate support lies at $1250 and resistance at $1330 area.

Silver:

• Silver is much better performer than gold. Today’s range $18.35-18.88
• Active call – Buy Silver @ $16.7 with target around $19 and stop loss at $14.8. Target extended to $26
• Silver is currently trading at $18.7/troy ounce. Support lies at $16, & resistance at $20

Copper:

• Copper is the best performer of the week, rallying on Trump’s infrastructure plans. Copper is having its best weekly run in 30 years Today’s range $2.51-2.73
• Copper is currently trading at $2.68/pound, immediate support lies at, $2.4 & resistance at  $2.86